Some Chinese steelmakers are refusing to deliver January-contracted steel cargoes bound for Shanghai Futures Exchange warehouses to stem falling prices.Some steel mills in northern China said on Wednesday November 10 they will not deliver cargoes for January futures positions because their prices are too low compared with spot physical prices.The most-traded January rebar futures contract closed a...Read More
Chris Temple of The National Investor explains why he has put E2Gold on his buy list and why he believes E2Gold has the potential to multiply its resource base. News Flash, Nov. 11: Sector expert Clive Maund explained in a quick update why he has put E2Gold on his list as a great buy for today. You can read more here.Several weeks ago in one of my regular calls with Streetwise Reports to compare n...Read More
Diamond drilling results from White Gold Corp.'s Ryan's Surprise and Ulli's Ridge targets demonstrate significant potential to increase the global resource from 1.5 Moz Au to over 2 Moz Au at the company's Golden Saddle/Arc property. Stifel Nicolaus Canada Inc. commented in a research note that it has a "Buy" rating for White Gold and that a re-rating for the firm's shares is likely should it reac...Read More
Sector expert Clive Maund explains in a quick update why he has also put E2Gold on his list as a great buy. After its sharp reaction of recent days within a prevailing strong uptrend to arrive at its rising 50-day moving average, E2Gold Inc. (ETU:TSX.V) looks like it is at another great "buy spot" here, especially as this steep reaction has created a considerable degree of "compression" into the u...Read More
HudBay Minerals is in full execution mode in terms of exploration, project advancement and landing new opportunities, according to a BMO Capital Markets report. Financially, HudBay Minerals Inc.'s (HBM:TSX; HBM:NYSE) Q3/21 was "noisy" with beats and misses but overall was positive, reported BMO Capital Markets analyst Jackie Przybylowski in a Nov. 4 research note. Operationally, the company advan...Read More
Quebec Precious Metals, formed by a merger of two mining companies, may be sitting on as much as 2 million ounces of gold at its Quebec properties. Quebec Precious Metals Corp. (QPM:TSX.V; CJCFF:OTCQB; YXEP:FSE) was created through a transaction that brought together two mining companies, along with the consolidation of additional assets in the James Bay region of Quebec. The company has large, pr...Read More
Precious metals expert Michael Ballanger explains why he believes the precious metals are breaking free of the gravitational pull of the last 15 months and are in the early stages of escape velocity. "In physics (specifically, celestial mechanics), escape velocity is the minimum speed needed for a free, non-propelled (non-manipulated) object (asset) to escape from the gravitational influence of a...Read More
Nickel, a key raw material in lithium-ion batteries used in electric vehicles (EVs), has gradually grown its market share amid a global shift away from fossil fuels.But with lithium iron phosphate (LFP) batteries making a comeback in the EV market in China, a shadow is being cast on the growth potential for nickel consumption in 2022.The stainless steel market, which accounts for approximately 90%...Read More
"Magna Gold should be trading at a premium to the peer group, and a rerating is imminent," an M Partners report noted. Magna Gold Corp.'s (MGR:TSX.V; MGLQF:OTCQB) quickly growing into a mid-tier producer led to another brokerage adding the company to its coverage universe. M Partners just initiated coverage on Magna, assigning it a Buy rating and a CA$1.70 per share target price, analyst Ben Pirie...Read More
Emerita Resources Corp. issued an update regarding the status of two ongoing independent court cases in Spain and its prospects for winning the tender for the Aznalc?llar project. Research Capital Corp. commented in a research note that it believes the company has at least an 80% probability of being successful in the cases and is maintaining a "Speculative Buy" rating for the company. In a Nov. 8...Read More
Gold finished solidly above the$1,800/oz level on Friday, marking the yellow metal’s best weekly close sincelate August. More importantly, gold may be breaking out of a largerconsolidation pattern that has been in force since prices peaked in August oflast year.Prices edged above thedescending triangle line – although perhaps not convincingly so.Ifthe breakout is real, then we should s...Read More
China's output and sales of automobiles continued their year-on-year decline in October due to the continuing semiconductor chip shortage, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Wednesday November 10.Automobile output and sales in the country dropped by 8.8% and 9.4% year on year respectively, both to 2.33 million units in October, CAAM dat...Read More
Automotive and industrial supplier Schaeffler has signed an off-take agreement with Sweden's H2 Green Steel (H2GS) to purchase 100,000 tonnes of its near-zero CO2- free steel on an annual basis from 2025, the company announced earlier in the week.The steel will be produced via direct reduction with hydrogen from renewable energy, replacing coking coal and reducing emissions by 95% in comparison wi...Read More
The trade agreement between the EU and the US to replace Section 232 tariffs with a quota system has received a positive wecome from Europe's long steel producers, sources told Fastmarkets this week.The European Union and the United States came to an agreement on October 30, although United Steelworkers International president Tom Conway said at the time that the volumes permitted to come in from...Read More
The People's Bank of China (PBOC) will offer cheaper funding to financial institutions which provide green loans, according to a statement released by the Chinese central bank on Monday November 8.The central bank will lend money to financial institutions to help them support firms which are working toward China's energy transition goals, the statement read.Financial institutions can borrow from P...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More
Base metals prices on the London Metal Exchange were largely up at the 5pm close of trading on Thursday November 11, after a strong morning performance and reassuring news that emerged from the Chinese property sector."Chinese stock markets gained, on growing confidence that the authorities would ease the crackdown on the property sector and support developers," Anna Stablum, LME desk analyst at M...Read More
Production output for mining companies across base metals is likely to remain low despite significant additional capacity because miners face challenges from climate disruptions, ageing mines and Covid-19-related delays, Australian consultancy and research firm Cape Noir said on Thursday November 11."A lot of assets are showing declines in production and rolling delays to maintenance. Assets have...Read More
European hot-rolled coil prices were stable to slightly lower on Thursday November 11, on subdued activity, but producers hope to achieve higher prices in the first quarter of 2022, sources told Fastmarkets.Trading activity was slow, with buyers refraining from making purchases and instead assessing the situation. Producers, meanwhile, were looking to achieve higher prices for the first quarter of...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More